If a merger fails then SBM directors would have to act for SBM. If the Ulysses ore was not acquired from a merger, the responsible thing would be to canvas ore from all other sources and find the best deal. Instead we have:
St Barbara and Genesis are working together on an ore purchase agreement so that in the event the merger fails to complete, Ulysses or other Genesis ore sources can be processed at Leonora over a specified timeframe.
Not exactly keeping the cards close to the chest is it? There is no "working together" if a merger fails. There is only working for SBM shareholders. GMD directors will eat SBM for breakfast.
SBM Price at posting:
75.3¢ Sentiment: None Disclosure: Not Held
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